A Perspective is presented on the history and current understanding of molecular gels and the factors that must be considered to characterize them. The abilities of the most important structural, dynamic, and rheological tools available currently to provide the information necessary to follow the formation of a molecular gel from its initial sol phase and then to define it at different distance and time scales are discussed. Approaches to determining a priori when a molecule will gelate a selected liquid, as well as possible methodologies for overcoming current limitations in understanding molecular gels, are presented. Finally, some of the many potential and realized applications for these materials are enumerated.